PwC says its survey findings should prompt employers to revisit their financial wellness programs to ensure they are addressing the challenges employees are facing and motivating them to make improvements to their overall financial well-being and retirement readiness.
The company calls it a defined outcome system because it is a suite of tools that emphasizes retirement income over account balances.
The son of late Assistant Supreme Court Justice Antonin Scalia failed to get confirmation from the Senate for the position of Department of Labor Solicitor when President George W. Bush was in office.
INSIDE THE MAGAZINE PLANSPONSOR APRIL/MAY 2019
The district court found "the mere fact that the plan included the affiliated funds—and defendants were aware of that fact—is not sufficient to charge them with constructive knowledge of their predecessors’ alleged improper selection process.”
However, the ratings agency doesn’t expect funded status improvements to continue, and it notes that many not-for-profit hospitals are focusing on de-risking strategies.
The lawsuit says the so-called “incentive” Yale offers for participating in the wellness program are in fact a “penalty” that violates non-participants’ right, and it notes that the Equal Employment Opportunity Commission (EEOC) withdrew the incentive portions of its wellness program rules.
A multiemployer plan was found to have brought a viable claim for a withdrawal contribution required in its trust documents.
The IRS has issued guidance allowing high-deductible health plans (HDHPs) with health savings accounts (HSAs) to cover specified medications and services used to treat chronic diseases prior to meeting the plan deductible.
Employers can lower their health benefits spend, as well as costs for employees, by moving away from preferred provider organizations (PPOs), utilizing value-based care and using benefits consultants instead of traditional brokers.
The adoption of enhanced defined contribution (DC) plan features has led to increased plan participation and optimized portfolio construction for small business employees, according to Vanguard.
Some legislative proposals, such as the SECURE Act, may address challenges to retirement income adequacy women face, but there are also things retirement plan sponsors can do.
Alight Solutions says the steady stream of trades in one direction made for the heaviest quarter of net trading since the third quarter of 2016.